Koalafi & Lease-to-own

Customer portal

Application process

Available approval & virtual card

Payments

Early purchase options

Service & support

Lease-to-own is a flexible way to get the items you need now—without a large upfront payment or a long-term commitment. Koalafi’s lease-to-own option is not a loan or line of credit. Traditional loans and credit involves borrowing money that must be repaid, usually with interest. Lease-to-own is different.

Here’s how it works: Koalafi purchases the item(s) you select from the retailer. You then lease those items from Koalafi. Once you complete all scheduled lease payments—or choose to buy early using an early purchase option—you own the item(s).

You can lease a wide variety of items through Koalafi, including furniture, mattresses, tires, car parts, and home appliances.

We partner with many national and local retailers, including:

When you apply, we check your credit using Alternative Credit Bureaus. These are companies that collect credit information, like the big ones (Experian, TransUnion, and Equifax), but they may track different types of credit activity—especially for people with limited credit history. The credit check made when you apply creates a record called a "hard inquiry." If you’re just checking to see if you qualify (a prequalification), it creates a "soft inquiry" at first, and a hard inquiry only if you agree to the lease terms.

A soft inquiry does not affect your credit score. A hard inquiry might change your score at the Alternative Credit Bureaus, but it will not affect your FICO score from Experian, TransUnion, or Equifax.

After you sign the lease, we report your payments to TransUnion every month. Paying on time may help your TransUnion credit score go up. Missing payments may make it go down.

No, we don’t charge interest. However, our lease-to-own option does include a cost of ownership in addition to the item's retail price. This cost varies depending on your state and is detailed in your lease agreement.

Approved customers may be able to choose from 12-, 18-, or 24-month lease terms. Regardless of the term, you’ll always have the option to pay off your lease early.

Easy! Just click here to access your account.

If you are having issues with logging into the customer portal, be sure to put the phone number used on your application when logging in.

To apply, you must:

We consider several factors, including income, employment, and banking information.

Yes. As long as you have a reliable income source like retirement or a pension, you can still apply.

Qualified applicants can be approved for up to $7,500.

Approvals typically take less than 10 seconds.

This could mean there’s missing or incorrect information on your application. Here are some errors you might encounter and how to troubleshoot them:

Yes—but only if you haven’t yet signed your lease agreement. To check if your application is eligible for transfer, contact the merchant you’d like to move your application to.

We use it as part of our approval process and to set up your automatic payments once the lease begins.

No, it’s free to apply with us and to find out your approval amount. To use those funds, you may need to make an initial payment though.

Your lease approval is valid for 30 days from the date you’re approved.

Available approval refers to any unused amount from your initial approval. If your purchase was less than your approval amount, you may be able to use the leftover balance to start a new lease. Example: If you’re approved for $4,500 and spend $2,700, your available approval is $1,800.

You can find your available approval by checking the overview page of the customer portal.

If you have available approval, you can create a new lease by following these steps:

If your account is active and your payments are current, you can use your available approval until your current lease is closed. If your account is closed though, your available approval is valid for 180 days.

Our virtual card is a one-time-use digital card that works like a credit or debit card for purchases at participating retailers. The virtual card is issued after you're approved and sign your lease-to-own agreement. Use it like any credit or debit card at online checkouts or in stores that accept Koalafi. You’ll receive the card details digitally—there’s no physical card.

To view your virtual card, simply revisit the original link that was texted to you when you applied for that card. From there, you’ll just need to confirm your information to pick back up where you left off.

This could be happening for a few reasons. Here are some ways to solve the issue:

You can log onto our customer portal or app to view your account and make one-time payments.

Automatic payments are taken out based on the pay cycle you selected when you applied. Each automatic payment made goes towards your total cost of ownership.

You can update your default method through our customer portal or the Koalafi app. View the lease you’d like to make this update with, then click on the switch payment method button.

Your lease payments start once we’re notified by the store that your items have been shipped or delivered.

To reschedule a payment, please visit the customer portal and request the change at least 3 business days before it's due.

Koalafi owns the merchandise until you finish paying for it according to the terms of your agreement. Once your lease agreement has been paid off, you will obtain full ownership of the merchandise.

We offer an initial early buyout option which allows you to finish paying off your lease during the first 90 to 120 days after your lease starts.

If you pay everything they owed during that time, you'll only need to pay:

We also offer our standard early buyout. This option takes your remaining balance minus any past due and fees and multiplies it by your early buy out percent listed in your lease agreement. This payoff amount appears in the customer portal and app and can change daily. It must be paid in one day to achieve early buyout.

You can log into the customer portal to view your early purchase option information and to make payments.

You can log into the customer portal to view your payment history and receipts.

Yes! You can add someone to your account as an authorized user. To add them, log into the customer portal, go to personal information, and select “Authorized User” to enter their details.

Yes, we’d love to help you with eligible returns. Please contact us.

If you haven’t received all your items, please reach out to the store directly so they can help resolve the issue. If they’re not able to assist, please contact us.

If you received the wrong item, please contact the store you made the purchase with so they can help resolve the issue for you as quickly as possible.